Asia-Pacific Silage Inoculant Market was worth $55.23
million in 2016 and estimated to be growing at a CAGR of 4.60%, to reach $69.16
million by 2021.
Silage Inoculants improve silage quality and control the
preservation process of forage ensuring maximum nutrients retention at the time
of feeding. Silage improves the animal performance and health; subsequently
improving the yield and quality of food from animal origin.
Silage Inoculants are used in treating crops with sufficient
water soluble carbohydrates and moisture content. Fermentation of silage is a
very uncontrollable process which leads to nutritional losses in the silage.
Silage inoculants products are slowly gaining attention of consumers as it is a
cost effective solution. The Silage Inoculant market is developing at a
significant rate due to the increase in the livestock population.
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The growth of the Asia-Pacific Silage Inoculant market is
mainly driven by reasons such as the rise in the meat consumption, adoption of
intensive farming system, and improvement in quality of silage. Increasing
population in this part of the world is also supporting the growth of the
Asia-Pacific meat market, ultimately increasing demand for the silage
Inoculants. Volatile economies and lack of awareness are the major restrictive
factors for the Asia-Pacific market.
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The Asia-Pacific Silage Inoculant market is segmented based
on type and application. On the basis of type, the global Silage Inoculant
market is segmented into Lactobacillus plantarum, Pediococcus pentosaceus,
Enterococcus faecium, Lactobacillus buchneri, Lactobacillus brevis,
Propionibacteria freundenreichii, and others. On the basis of application, the
market is segmented into Cereal crops, Pulse Crops, and others. Among Inoculants,
Lactobacillus plantarum has the major share of 24% as they exhibit more
efficiency in fermentation. However, Lactobacillus bucherni is expected to grow
at the fastest CAGR because of higher efficiency. In the application segment,
Cereal is the most widely applied crop with silage inoculants.
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The Asia-Pacific region is geographically segmented into
China, India, Japan, South Korea, and Australia. This region offers substantial
opportunities for the Silage Inoculant market, with China and India being the
most populous countries in this region contributing to the increasing demand.
China leads the market in this region. This region accounts for about 22% of
the global market and is expected to be the most fastest growing market during
the forecast period. Indonesia, Vietnam, and Malaysia, are some of the
promising players in this market.
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Some of the major companies dominating this market are
Cargill, ADM, Dupont, Volac, Nutreco, Lallemand, ForFarmers, CHr.Hansen and
others. Existing companies such as ADM and Nutreco have been actively involved
in acquisition of regional players to strengthen their market presence. Key
strategies such as investments in R&D are being employed by major companies
to meet the growing Silage Inoculant demand.
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